Larger increases in the demand for labor than in the supply of labor explain:
A. the substantial increase in real wages.
B. skill-biased technological change.
C. the slowdown in real wage growth.
D. increasing wage inequality.
Answer: A
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Which of the following would be an appropriate discretionary fiscal policy to use when the economy is in a recession?
a. Increased government spending. b. Higher taxes. c. A balanced-budget reduction in both spending and taxes. d. An expansion in the money supply.
The AD curve slopes
A) downward due to the wealth and price effects. B) downward due to the wealth and substitution effects. C) upward due to the price and substitution effects. D) upward due to the wealth and substitution effects.
In response to the recession of 2008-2009, the United States
a. increased government spending as a share of the economy and enlarged the size of the budget deficit. b. reduced government spending as a share of the economy and shifted the budget toward a surplus. c. increased government spending as a share of the economy and shifted the budget toward a surplus. d. reduced government spending as a share of the economy and enlarged the size of the budget deficit.
Suppose the Johnson Corporation releases an earnings report that beats the market's expectations. What does the efficient markets hypothesis predict will happen to Johnson's stock price